Philippine Remittances Rise 3.5% YoY in January

Cash remittances coursed through banks in the Philippines grew by 2.6% year-on-year to USD 2.8 billion in February 2026 from USD 2.7 billion in the same month of the previous year. Both land-based workers and sea-based workers recorded higher remittances, increasing 2.7% and 2% from a year earlier, respectively. By country of origin, the US remained the top source, accounting for 40% of total remittances, followed by Singapore (7.7%), Saudi Arabia (5.5%), the United Kingdom (4.8%), and Japan (4.6%). Considering the first two months of the year, cash remittances rose by 3.1% to USD 5.81 billion compared to the same period last year. Meanwhile, personal remittances, which include bank transfers, informal channels, and in-kind transfers, rose by 2.6% to USD 2.79 billion from USD 2.72 billion a year ago.

Cash remittances coursed through banks in the Philippines grew by 3.5% year-on-year to USD 3.02 billion in January 2026 from USD 2.92 billion in the same month of the previous year. Both land-based workers and sea-based workers recorded higher remittances, increasing 3.5% each from a year earlier. By country of origin, the US remained the top source, accounting for 40.2% of total remittances, followed by Singapore (7.6%), Saudi Arabia (6.7%), Japan (5.8%), and the United Kingdom (4.6%). Meanwhile, personal remittances, which include bank transfers, informal channels, and in-kind transfers, rose by 3.5% to USD 3.36 billion from USD 3.24 billion a year ago.

Cash remittances coursed through banks in the Philippines rose by 4.2% year-on-year to a record high of USD 3.52 billion in December 2025 from USD 3.38 billion in the same month of the previous year. This also brought total inflows for 2025 to an all-time high of USD 35.63 billion, 3.3% higher than the USD 34.49 billion recorded in 2024, and equivalent to 7.3% of GDP and 6.4% of GNI. Both land-based workers and sea-based workers recorded higher remittances, increasing 4.5% and 3.3% from a year earlier, respectively. By country of origin, the US remained the top source, accounting for 39.7% of total remittances, followed by Singapore (7.3%), Saudi Arabia (6.6%), and Japan (5%). Meanwhile, personal remittances, which include bank transfers, informal channels, and in-kind transfers, grew by 4.2% to USD 3.89 billion from USD 3.73 billion a year ago. For the full year, personal remittances increased by 3.3 percent to an all time high of US$39.62 billion from US$38.34 billion in 2024.?